This proposal basically makes the non-conference games irrelevant, and since most conferences only play 8 of their 12 games in-conference, you make a full 1/3rd of their schedules pointless.
Wrong.
However they pick...computers, committee, etc. you are still going to have to be in the top 4 of conference champs. Conceivably you could win your conference but the lack of decent OOC games or losing one or two of them could get you shut out of the playoff.
How many conferences are we realistically talking about? 7 or 8? That's a pool of let's say 8 teams that already met the big criteria...conference champion. What is going to differentiate them further? Certainly the toughness of their conference. But it's also going to come down to OOC as well. OOC is definitely not rendered meaningless.
Even if it was lessened in importance I'd rather see that be the case than have the conference season diminished in importance.